Vanguard Group Inc. Decreases Stake in Cannae Holdings, Inc. $CNNE

Vanguard Group Inc. decreased its position in Cannae Holdings, Inc. (NYSE:CNNE) by 13.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,076,148 shares of the company’s stock after selling 761,462 shares during the quarter. Vanguard Group Inc. owned 9.84% of Cannae worth $92,944,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in CNNE. Police & Firemen s Retirement System of New Jersey raised its position in shares of Cannae by 6.3% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 12,189 shares of the company’s stock worth $254,000 after acquiring an additional 725 shares in the last quarter. CWM LLC boosted its holdings in Cannae by 25.0% in the third quarter. CWM LLC now owns 4,065 shares of the company’s stock valued at $74,000 after purchasing an additional 812 shares in the last quarter. Raymond James Financial Inc. increased its stake in Cannae by 0.5% in the second quarter. Raymond James Financial Inc. now owns 267,358 shares of the company’s stock valued at $5,574,000 after purchasing an additional 1,265 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Cannae by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,465 shares of the company’s stock worth $613,000 after purchasing an additional 1,405 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its position in shares of Cannae by 66.8% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 4,168 shares of the company’s stock worth $87,000 after buying an additional 1,669 shares during the last quarter. Hedge funds and other institutional investors own 88.12% of the company’s stock.

Cannae Stock Performance

NYSE CNNE opened at $11.94 on Friday. The business has a 50 day moving average price of $14.46 and a 200 day moving average price of $16.53. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 2.03. The company has a market capitalization of $553.18 million, a P/E ratio of -1.34 and a beta of 1.11. Cannae Holdings, Inc. has a 1-year low of $11.24 and a 1-year high of $21.96.

Cannae (NYSE:CNNE) last announced its quarterly earnings results on Monday, February 23rd. The company reported ($1.93) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($1.55). Cannae had a negative net margin of 121.15% and a negative return on equity of 31.78%. The firm had revenue of $103.30 million during the quarter, compared to analysts’ expectations of $102.70 million. During the same quarter in the prior year, the business earned ($0.74) EPS. The company’s quarterly revenue was down 6.0% compared to the same quarter last year. Sell-side analysts expect that Cannae Holdings, Inc. will post -3.14 EPS for the current fiscal year.

Cannae Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be given a $0.15 dividend. The ex-dividend date is Tuesday, March 17th. This represents a $0.60 annualized dividend and a dividend yield of 5.0%. Cannae’s dividend payout ratio is currently -6.73%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CNNE shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cannae in a research note on Friday, January 9th. Royal Bank Of Canada reduced their price objective on shares of Cannae from $19.00 to $16.00 and set an “outperform” rating for the company in a research report on Tuesday, February 24th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $19.00.

Cannae Profile

Cannae Holdings, Inc (NYSE: CNNE) is a publicly traded diversified holding company that focuses on partnering with and investing in businesses across a range of industry sectors. The company seeks to identify attractive opportunities in both private and public markets, leveraging its capital resources and management expertise to support operational growth and value creation. Cannae’s investment strategy emphasizes companies in data and analytics, marketing services, healthcare technology, and payment processing.

Through its portfolio, Cannae holds controlling or significant minority stakes in companies that provide critical software, data and services to corporate clients.